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Plan for integration of Pirelli Re and Fimit suspended

THE PIRELLI GROUP PROCEEDS WITH THE PROCESS OF FOCUSING ON INDUSTRIAL ACTIVITIES: SEPARATION OF REAL ESTATE BUSINESS FORESEEN BY YEAR END

Milan, 29 January 2010 – Pirelli & C., Pirelli RE and Fimit communicate that they have suspended the joint feasibility study for industrial integration with Fimit announced last November.

At  present the path of integration, due to its importance and complexity, is not compatible in terms of time frame with the Pirelli RE real estate development plan already underway, and with the reorganization process at Fimit.

The Pirelli Group, coherently with what it has announced to the market, in any case will continue in the process of focusing the business on industrial activities, moving ahead with the plan for separation of the real estate assets, which should foreseeably be completed by year end, once the specific plan, with terms and conditions defined, has been reviewed and approved by the appropriate corporate entities of all companies concerned.